Veteran Investment Executive Formerly with Australia's Spotlight Group
LOS ANGELES, CA / ACCESSWIRE / September 30, 2024 / LaTerra Development, a leading real estate investment and development company, has named Ben Grosberg to spearhead capital raising and investor relations to support its new strategy to buy existing multi-family and self-storage assets as well as ground-up development.
A seasoned real estate investment executive, Mr Grosberg will focus on Registered Investment Advisors and Family Office investors.
He has worked with RIAs, high net worth individuals, and private family office investors in Australia and the US for the past 15 years. He recently served as Director of Capital Markets at leading Los Angeles real estate investment bank, Dekel Capital, where he helped establish the JV-Equity platform and raise private capital for both Dekels JV and advisory businesses.
"Bringing a well-known and respected executive onboard to lead our new capital markets initiatives is a major step in LaTerra's expansion strategy," said Charles Tourtellotte, CEO of LaTerra, "Ben's experience and contacts will be invaluable in expanding our investor base."
Prior to joining Dekel, Mr Grosberg worked at the Spotlight Group, one of Australia's largest private HNW family offices, where he managed the diverse investment holdings of the group.
The addition of Mr. Grosberg to the team comes at a time as the company expands beyond its successful development business into acquisitions of core+ multifamily and self-storage properties. Mr. Grosberg's leadership in capital markets and investor relations will play a key role in supporting this broader investment strategy, which aims to diversify LaTerra's portfolio and capitalize on current market opportunities .
"Private investors are acutely aware of the current market opportunity of buying institutional quality assets below replacement cost," Mr Grosberg says. "Investing with a proven operator like LaTerra gives investors direct access to these deals so they can build portfolios of steady, cash-flowing assets."
LaTerra Managing Director Chris Tourtellotte added, "With values bottoming out and interest rate cuts commencing, this is an excellent entry point for acquisitions. We believe we have a window of opportunity to buy multifamily and storage assets today at a deep discount and benefit from a recovering market."
LaTerra is a leading self-storage and multifamily investment and development company with a focus on U.S. Sun Belt markets. It currently has approximately 1,000,000 square feet of self-storage in development. Its multifamily housing business serves the outsized demand for best-in-class value rentals, with more than 3,000 residential units in its portfolio. LaTerra has global institutional investors including those from the US, Canada, and Australia.
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Contact:
Barbara Casey
310.990-0750
bcasey@caseysayre.com
SOURCE: LaTerra Development, LLC
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